Investor Presentaiton
CAT
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
LKAS 1-Presentation of Financial Statements
27th June 2012
OBJECTIVE
The standard prescribe the basis for presentation of general purpose financial
statements to ensure comparability both with the entity's financial statements of
previous and with the financial statements of other entities. It sets out overall
requirements for the presentation of financial statements, guidelines for their
structure and minimum requirements for their content.
CA T
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
LKAS 1- Presentation of Financial Statements
27th June 2012
Scope of the Presentation
7
SCOPE
•
An entity shall apply this standard in preparing and presenting general purpose financial
statements in accordance with Sri Lanka Accounting Standards. (SLFRSS)
This standard, except for Paragraph 15-35,doesn't apply to the structure and content of
condensed interim financial statements prepared in accordance with Interim Financial
Reporting.
Terminology - Suitable for profit oriented entities. ( including public sector entities)
Not-for-profit entities may amend the descriptions used for particular line items
Entities that do not have equity as defined in LKAS 32 Financial Instruments:
Presentation (e.g. some mutual funds) and entities whose share capital is not equity (eg.
some co-operative entities) may need to adapt the financial statement presentation of
members' or unit holders' interests.
Scope of the Presentation
8
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